Cryptocurrencies are supplementing the role of precious metals as a store of value, and may one day eclipse them. They already lower costs for moving capital across borders, and as technology and confidence improve utilization rates will likely increase. Banks have taken notice.
Traditional banks are investing in private forms of cryptocurrencies, and will partner with corporate networks such as Facebook to roll out private coins that provide some of the benefits of public crypto-networks but differ in crucial respects. What are some of the important differences between public networks and consortium, member-only network? What is on the horizon in the near future, and how are corporate-supported networks likely to change public attitudes, political responses and social trends?